PayPal was originally a payment method used exclusively for auction website eBay but, in 2014, the two companies split into two separate entities. Since then, PayPal has expanded exponentially to become one of the best online payment methods, especially for online gambling. Along with its monumental growth came the rise of PayPal online casinos, which started accepting PayPal as a deposit and withdrawal method.
PayPal is only set to continue its world domination in 2020, after the previous year saw its payment volume rise even beyond projections. As a result, more and more companies, including all the top online casinos, are now encouraging customers to start using it as a safe and more secure alternative to card payments. This guide will help you find the best PayPal casino sites available to Canadian players!
Why You Should Use PayPal with Online Casinos
One of the main advantages of using PayPal to make deposits and withdrawals into an online casino account is that bank account details or card information is never transmitted across the internet to the casino itself. The bank details are only stored with PayPal, and never communicated to any merchant or retailer. This creates an extra layer of security so that players can gamble safe in the knowledge that their privacy is guaranteed. Another advantage that PayPal offers its customers is that the funds are transferred immediately, so players do not need to worry or waste time wondering where their funds are.
How Does PayPal Work?
PayPal is an online account that can be attached to one or several email addresses. Here is a simple how-to guide to show users the steps involved in opening a new PayPal account:
- Step 1: Sign up for PayPal. | Visit PayPal and sign up for a free account. New customers will need to register an email address and create a password, which will be required for logging into the new PayPal account.
- Step 2: Fill out your personal details. | PayPal requires that you enter your name, address, and contact information. It will not be transmitted with any payments, and is only used to contact you about payments made to and from your PayPal account.
- Step 3: Enter your bank details. | Customers can choose whether to link PayPal to a card, or directly to a bank account via Direct Debit. For direct debit payments, customers will also be required to confirm a four-digit code attached to a payment sent to their bank account. This can be found by contacting the bank or logging into online banking and checking the payment description.
- Step 4: Confirm your email address. | PayPal has a two-step authentication process where users have to confirm their email address by clicking a link sent to them. Once that’s done, players can then fund their new PayPal account, and link it to an online casino account to transfer funds and start betting.
Is PayPal Legal in Canada?
PayPal is perfectly legal in Canada and actually works together with the Canadian Government as a Payments Canada Stakeholder Advisory Council member to support a vibrant economy in the country. As far as online casinos concern, all casinos that accept PayPal are licensed and registered by the Gambling Commission. PayPal requires all Canadian online casinos to set up an Alternative Dispute Resolution service to resolve any disputes that the casino cannot, in case payments go missing. Most online casinos based in Canada register with the e-Commerce Online Gaming Regulation and Assurance (eCOGRA) as its regulation body.
How Safe is PayPal?
PayPal is a safe and secure method for conducting online transactions, as it never reveals any private information to the merchant except for your email address. As with banks, PayPal has a highly efficient fraud team that will act quickly to protect your funds and try to prevent fraud through scams and theft. They can be contacted through the PayPal website. If it is an urgent matter, PayPal supply a freephone number and a unique six-digit code to verify your identity.
Creating an Account with PayPal
In order to complete a PayPal signup, users need to register their email address to create a PayPal account. Once the email address has been verified, players can then link their PayPal account to a debit or credit card, or directly to a bank account for money transfers.
Does PayPal Cost Anything?
Unless players are using a PayPal account as a business to sell goods, then there are no PayPal fees for transferring funds. Players are free to make PayPal deposits into a casino account, and withdraw winnings back to the same PayPal account when using a direct bank transfer or debit card to fund the PayPal account. However, if players are using a credit card to transfer funds, there is a PayPal cost of 2.9% + 0.30 per transaction. Casino players gambling at international casino sites should note that there is a currency conversion charge if making PayPal withdrawals in another currency. The fee will differ depending on which country the casino is registered to.
Top 5 Most Popular PayPal Slots 2020
PayPal slot games allow players to instantly fund their casino account with PayPal, so they can concentrate on playing the best slots available in Canada. Here are the five best PayPal slots available to play in 2020:
- Starburst by NetEnt
- Immortal Romance by Microgaming
- Gonzo's Quest by NetEnt
- Mega Fortune by NetEnt
- Fruit Madness by Playtech
Can You Use PayPal with Online Casino Bonuses?
Yes, most casinos accept Paypal as a payment method in conjunction with online casino bonuses. Some casinos even offer exclusive Paypal casino bonuses, where players will earn more by using PayPal to fund their account. These promotions are usually very apparent on casino websites, but players are best to check if the casino has an offer tied to PayPal deposit bonuses before making any initial deposits so as to try and maximize their funds.
Comparing PayPal vs Other eWallets
|Withdrawal Fees||None.||CA$7.98 with Swift.||€7.50 to a bank account.|
|Deposit Fees||No fees when money is sent from bank account or debit card. 2.9% + 0.30 from credit card.||No fees when money is sent with Swift. Between 1.9% - 2.5% from cards. 3% from NETELLER eWallet.||No fees when money is sent from bank account. Between 2.25% - 4.95% from cards. 3% from Skrill eWallet. 7% from paysafecard.|
|Currency Fees||Varies depending on country.||3.99% (less for VIPs).||3.99% (less for VIPs).|
|Account Fees||None.||None, unless account is inactive for 12 months, then €3 (or equivalent) every month.||None, unless account is inactive for 12 months, then €3 every month.|